Canadian Budget surplus by 2015

[Bigerik]

The Conservative government brought in a new budget yesterday, with a reduced deficit, increased health care spending, cuts to the military, and closing many tax loopholes. The deficit is down sharply this year, with a balanced budget being planned for 2015, with surpluses in the following years. Our Conservative party, which is something slightly left of the Democrats in the US, is definitely handling the economy well.

Some highlights:

-$900 million in new spending, no new taxes or tax cuts
-$400 million in revenue from closed tax loopholes and enforcement
-Creation of a new Canada Job Grant next year to train workers
-New 10-year, $14.4 billion infrastructure fund starting in 2014
-$241 million over five years for First Nations skills training
-$1 billion over 5 years for aerospace industry and research
-Snitch line and rewards to catch international tax cheats
-CIDA wrapped into renamed Foreign Affairs, Trade and Development
-Gas tax fund for cities to increase two per cent each year
-Tariffs eliminated for most imported sports goods, kids’ clothing
-For small business, extension of EI credit for new hires
-$119 million over five years to transition homeless off the streets
-"Super" tax credit to encourage young Canadians to donate
-Expanded tax credit for adoption-related expenses
-$8 million to refurbish Toronto's Massey Hall concert venue
-Sick leave on the table in public sector labour talks
-Refund for veterans’ funerals and burials doubled to $7,376